Finance Team Structure for $5M-$50M Companies
Right-sized teams for growing businesses—not too lean, not over-built.
Key Takeaways
- •Finance team size and structure should match revenue and complexity, not just headcount
- •Most $5M-$15M companies operate effectively with 1-3 finance staff plus fractional CFO
- •$15M-$30M typically requires 3-5 people including a controller and dedicated FP&A
- •Build incrementally—add roles as specific gaps emerge, not preemptively
Finance team structure is one of the most misunderstood aspects of scaling a business. Some companies over-build, hiring a full finance department before they need one. Others under-invest, leaving critical gaps that constrain growth. The right answer is a team that matches your actual needs.
This guide provides practical frameworks for building finance teams at different stages, with specific role definitions and cost expectations. Many growing companies start with a fractional CFO before committing to a full-time hire.
Finance Team Structure by Revenue Stage
Foundation Stage
Finance needs dedicated attention, but a large team isn't justified yet.
Typical Structure:
- Outsourced bookkeeping service
- Fractional CFO (10-15 hrs/month)
- Optional: Part-time AP/AR clerk
Annual Cost Range:
$60,000 - $150,000
Bookkeeping: $24K-$48K
Fractional CFO: $36K-$72K
Support staff: $0-$30K
Professional Stage
Complexity requires in-house accounting leadership. Strategic finance still often fractional.
Typical Structure:
- Controller (full-time)
- Staff accountant or bookkeeper
- Fractional CFO (15-25 hrs/month)
Annual Cost Range:
$200,000 - $350,000
Controller: $120K-$180K
Staff accountant: $50K-$70K
Fractional CFO: $60K-$100K
Growth Stage
FP&A becomes critical. Many companies transition to full-time CFO at this stage.
Typical Structure:
- CFO (full-time or heavy fractional)
- Controller
- FP&A analyst
- 1-2 accounting staff
Annual Cost Range:
$400,000 - $600,000
CFO: $200K-$300K
Controller: $130K-$170K
FP&A: $80K-$120K
Staff: $50K-$80K
Scale Stage
Finance becomes a full department with specialized roles.
Typical Structure:
- CFO
- Controller with accounting team (2-3)
- FP&A manager or director
- FP&A analyst(s)
- Potentially treasury or tax specialist
Annual Cost Range:
$600,000 - $1,000,000
CFO: $250K-$350K
Controller + team: $250K-$350K
FP&A team: $150K-$250K
Specialists: $0-$100K
Complexity Adjustments
These are baseline structures. Add headcount earlier if you have: multiple entities, international operations, PE ownership with heavy reporting, complex revenue recognition, or manufacturing/inventory. Subtract if you have simple, recurring revenue with straightforward operations.
Key Roles Defined
Chief Financial Officer (CFO)
Strategic finance leader. Owns financial strategy, capital decisions, board/investor relations, and serves as business partner to CEO.
Controller
Accounting operations leader. Owns month-end close, financial statements, compliance, audit, and accounting team.
FP&A Manager/Analyst
Financial planning and analysis. Owns budgeting, forecasting, variance analysis, financial modeling, and management reporting.
Staff Accountant / Bookkeeper
Transaction processing and basic accounting. Handles AP/AR, reconciliations, journal entries, and day-to-day bookkeeping.
Building Your Team: The Typical Sequence
Teams build incrementally as gaps emerge. Here's the typical progression:
Outsourced Bookkeeping
First step for any growing company. Gets books in order without headcount commitment.
Add Fractional CFO
Strategic guidance, board support, financial planning. Usually needed by $5M-$10M.
Hire Controller
When accounting complexity requires in-house leadership. Usually $10M-$15M.
Add Accounting Staff
Support the controller with transaction processing. Usually $15M-$25M.
Hire Full-Time CFO
When strategic needs require dedicated executive attention. Usually $20M-$35M.
Build FP&A Function
Dedicated planning and analysis capability. Usually $25M+.
Don't Skip Steps
Companies that jump to full-time CFO before having solid accounting foundations often struggle. A CFO can't be strategic if they're spending all their time fixing operational accounting issues. Build the foundation first.
Sample Organization Charts
$10M-$20M Company
$30M-$50M Company
Related Resources
Finance Hiring Roadmap
Step-by-step guide to building your team
Controller to CFO
When you need strategic leadership
Need Help Building Your Finance Team?
Eagle Rock CFO helps growing companies build the right finance structure. Whether you need fractional CFO support or help planning your team, let's talk.
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